CBSE Class 12 Economics Balance of Payment Revision Notes
Balance of Payment. :Balance of payments is an accounting statement that provides a systematic record of all the economics transactions between the residents of a country and the crore rest of the world in a given period of time. A country exported goods worth Rs. 2600 crore…
CBSE Class 12 Economics Income and Employment Revision Notes
Key concepts • Aggregate demand and its components. • Consumption function and Saving Function • Propensity to consume and propensity to save • Short run equilibrium Output Equilibrium level of income and output is determined where,1) AD=AS, 2) Planned saving =planned…
CBSE Class 12 Economics Determination of Income and Employment Revision Notes
Explain equilibrium level of national income using saving and investment approach. Draw a diagram in support of your explanation. The equilibrium level of income and output is that level at which planned saving and planned investment are equal. In the diagram equilibrium is…
CBSE Class 12 Economics Money and Banking Revision Notes
Money :- Money occupies a unique position in modern economy. In its absence the whole prosperous economic life would collapse like a pack of cards. Barter system of exchange :- Barter system of exchange is the system in which commodities are exchanged for commodities. This…
CBSE Class 12 Economics National Income Revision Notes
National Income – The money value of all the final goods and services produced by normal residents of a country during a financial year is called national income. Features of National Income – National Income always takes the monetary value which can be obtained by…
CBSE Class 12 Economics Forms of Market Revision Notes
Meaning: Market is a system where buyers and sellers come into contact for the transaction of goods and services. Important notes: • The term market as used in economics is quite different from the common sense understanding of a market • In particular, it has nothing as such…
CBSE Class 12 Economics Producer Behaviour and Supply Revision Notes
PRODUCTION FUNCTION: Production function is the technological relationship between inputs and maximum producible output. Note: To produce any output there is requirement of at least two inputs. A single input cannot produce any output. PRODUCTION The process of combining…
CBSE Class 12 Economics Consumers Equilibrium and Demand Revision Notes
POINTS TO REMEMBER:- Consumer: is an economic agent who consumes final goods and services to satisfy wants. Utility:- It is the want satisfying power of a commodity. This is measured in terms of ‘utils’- Utility can be of two types. (a) Total Utility:- TU is the sum…
CBSE Class 12 Economics Introduction Revision Notes
Meaning of economics: Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses. Meaning of an economy:-Economy is the system which provides people the means to work and earn a living. Or it is a frame…
CBSE Class 12 Economics 2015 examination guidance
As you are aware, CBSE has re-drawn a new blue print for its forthcoming board examination. We would like to highlight that the question paper design will be based on the blue print given in the Curriculum Booklet for 2015. It is important to re-iterate the following: There…